Burney Co. Cuts Stock Position in Protagonist Therapeutics, Inc. $PTGX

Burney Co. lessened its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 96.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,318 shares of the company’s stock after selling 195,667 shares during the period. Burney Co.’s holdings in Protagonist Therapeutics were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTGX. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the second quarter valued at about $27,000. Bessemer Group Inc. grew its stake in Protagonist Therapeutics by 171.0% in the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. CWM LLC grew its stake in Protagonist Therapeutics by 201.5% in the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares during the last quarter. GAMMA Investing LLC increased its position in Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after buying an additional 728 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Protagonist Therapeutics by 141.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company’s stock valued at $59,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the sale, the director directly owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,473,440 over the last quarter. Corporate insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Citigroup upped their target price on Protagonist Therapeutics from $72.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Wedbush upped their target price on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Truist Financial upped their target price on Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Leerink Partners initiated coverage on Protagonist Therapeutics in a research note on Friday, September 12th. They issued an “outperform” rating and a $73.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $77.08.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $77.88 on Thursday. The company has a market capitalization of $4.84 billion, a PE ratio of 111.26 and a beta of 2.22. The company has a fifty day moving average of $67.70 and a 200 day moving average of $57.09. Protagonist Therapeutics, Inc. has a 1 year low of $33.31 and a 1 year high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The business had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.